Sunrise’s CHF6.3 billion deal to acquire UPC Switzerland from Liberty Global hangs in the balance after the former announced it has cancelled a planned EGM on October 23. The company had initially scheduled an EGM to approve the announced reduction in the size of the rights issue planned to finance its acquisition of UPC Switzerland. […]
Freenet, the largest shareholder in Sunrise, is still opposed to the Swiss service provider’s deal to buy Liberty Global’s UPC Switzerland, despite a new offer from the US seller to take part in the deal. With Freenet vocally opposed to the deal for months, Liberty Global attempted to smooth things over by announcing an agreement […]
Sunrise is gaining shareholder support for its troubled agreement to buy UPC Switzerland from Liberty Global, which remains a “fantastic” opportunity to realise synergies and drive consolidation in the Swiss market, according to Sunrise CEO Olaf Swantee. Speaking to CNN, Swantee said that 75% of shareholders now back the revised capital increase planned by the […]
Swiss telco Sunrise has announced a reduction in the size of the rights issue planned to finance its troubled acquisition of UPC Switzerland in a bid to secure shareholder approval for the deal. The telco is to reduce the size of the rights issue by CHF1.3 billion (€1.2 billion) to CHF2.8 billion ahead of a […]
Liberty Global’s agreement with Sunrise to divest its UPC Switzerland unit “makes tons of sense” and it is up to the Swiss telco to “manage its shareholder base” and see the deal through, according to Liberty president and CEO Mike Fries. Speaking at the Goldman Sachs Communacopia conference in New York, Fries said that Liberty […]
Swiss telecom operator Sunrise has boosted its case in its battle with its biggest shareholder Freenet over the terms of its planned acquisition of cable operator UPC Switzerland from Liberty Global by receiving a favourable opinion on the fairness of the deal from ValueTrust Financial Advisors. According to to Sunrise, ValueTrust reviewed the key performance […]
Additional shareholders in Sunrise are leaning towards joining German service provider and Sunrise’s largest shareholder Freenet in opposing the Swiss telco’s acquisition of UPC Switzerland, according to a report by Reuters. Citing unnamed sources, Reuters reports that two big investors will oppose the deal with Liberty Global, while a third has expressed reservations. Additional opposition […]
Liberty Global has rejected making any changes to its agreement with Sunrise for the sale of its Swiss unit following the eruption of hostilities between Sunrise and its biggest shareholder, Germany’s Freenet over the terms of the deal. Noting the “recent statements” from the pair on the transaction, Liberty said that was “fully committed to […]
The battle between Swiss service provider Sunrise and its largest shareholder Freenet over the former’s plans to acquire UPC Switzerland has escalated, with Sunrise accusing Freenet board representatives of “a conflict of interest” and resolving to exclude them from discussions about the merger. Sunrise also asserted that Freenet had previously proposed an illegal acquisition of […]
German operator, and Sunrise’s largest shareholder, Freenet will vote against the telco’s proposed takeover of UPC Switzerland. Freenet, which owns a 24.5% stake in Sunrise, issued a statement that said: “Freenet is not satisfied with Sunrise’s acquisition of UPC Switzerland for a purchase price of CHF6.3 billion (€5.8 billion) and decided to vote against the […]
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